New Toshiba CEO plans to revive company

Nobuaki Kurumatani has become the first Toshiba chairman and CEO to be appointed from outside the company in over 50 years.

Commenting on his appointment, Kurumatani said, “I am honoured to be appointed CEO, and very much aware of the responsibilities I take on. Toshiba is not just any company. Its corporate DNA has realised countless Japan- and world-first technologies and products, made Toshiba a source of pride in Japan for nearly 145 years, and also made us a global leader.

“I believe that helping Toshiba back on its feet is my true calling. I am here at Toshiba to support change and transformation, and I see my role as to build on the company’s resilience and to lead its recovery. To secure growth, we must radically improve our earning power and reinforce our finances. We must move out of our comfort zone and promote fundamental reforms.”

Kurumatani most recently served as President of CVC Asia Pacific Japan. Before joining CVC in May 2017, he was deputy president and a director of Sumitomo Mitsui Financial Group, one of the largest financial institutions in Japan, where his career was devoted to corporate planning, public relations and internal auditing.

Satoshi Tsunakawa has taken on a new role in Toshiba as representative executive officer and president, and chief operations officer (COO). Kurumatani and Tsunakawa will together execute the management of Toshiba Group.